THE RUPEE: easier trend

Falling trend was seen on the money market as the rupee fell modestly against the dollar during the week, ended on 12 Dec, 2016.
OPEN MARKET RATES: The rupee shed 30 paisas in term of the greenback for buying and selling at Rs 107.20 and Rs 107.40.
The rupee gained 25 paisas in terms of the euro, picking up 25 paisas for buying and selling at Rs 113.00 and Rs 114.50, respectively.
IN THE INTER-BANK MARKET: the rupee gained five paisas in relation to the dollar for buying and selling at Rs 104.78 and Rs 104.80.
The rupee commenced the week on a firm tone due to slight improvement in supply of the US dollar, in the meantime, the domestic currency started moving down slightly, resulting closed with modest fall, experts said.
Country's foreign exchange reserves fell to 23.3 billion dollars, they observed. They also said that it looks that the rupee may move in a narrow range in terms of the dollar in the near future.
OPEN MARKET RATES: On Monday, the rupee gained 30 paisas in term of the greenback for buying at Rs 106.50 and the local currency picked up 50 paisas for selling at Rs 106.70. The rupee, however, shed 25 paisas against the euro for buying and selling at Rs 113.25 and Rs 114.75.
On Tuesday, the rupee dropped 50 paisas in term of the greenback for buying and selling at Rs 107.00 and Rs 107.20. The rupee managed to pick up Rs 1.50 against the euro for buying and selling at Rs 114.75 and Rs 116.25. On Wednesday, the rupee held overnight levels in term of the greenback for buying and selling at Rs 107.00 and Rs 107.20. In terms of the euro, the rupee was available at Rs 114.30 and Rs 115.80 for buying and selling.
On thu7rsday, the rupee was unchanged in term of the greenback for buying and selling at Rs 107.00 and Rs 107.20. The rupee shed 50 paisas in terms of the euro for buying and selling at Rs 114.80 and Rs 116.30. On Friday, the rupee lost 20 paisas in term of the greenback for buying and selling at Rs 107.20 and Rs 107.40. The rupee, however, gained Rs 1.15 in terms of the euro for buying and selling at Rs 113.25 and Rs 114.75. On Saturday, The rupee was unchanged in term of the greenback for buying and selling at Rs 107.20 and Rs 107.40.
The rupee maintained upward trend in terms of the euro, picking up 25 paisas for buying and selling at Rs 113.00 and Rs 114.50, respectively, they said.
INTER-BANK MARKET RATES: On December 5, the rupee shed one paisa in relation to the greenback for buying and selling at Rs 104.83 and Rs 104.84. On December 6, the rupee rose by three paisas in relation to the dollar for buying and selling at Rs 104.80 and Rs 104.81. On December 7, the rupee inched up by three paisas in relation to the dollar for buying and selling at Rs 104.77 and Rs 104.78.
On December 8, the rupee inched up by one paisa in relation to the dollar for buying and selling at Rs 104.76 and Rs 104.77. On December 9, the rupee shed two paisas in relation to the dollar for buying and selling at Rs 104.78 and Rs 104.80.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the euro tumbled in early Asian trade after Italian Prime Minister Matteo Renzi said he would resign after conceding defeat in a referendum over his plan to reform the constitution.
The euro dropped 1.3 percent to $1.0505, falling below its 1 1/2-year low of $1.0518 touched late last month, and testing its key support levels where the currency has managed to rebound in the past couple of years.
The dollar was trading against the Indian rupee at Rs 68.15, the greenback was at 4.4470 in terms of the Malaysian ringgit and the US currency was at 6.8897 versus the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Monday: 78.78-78.80 (previous 78.75-78.75).
In the second Asian trade, the euro steadied, having bounced from a near 21-month low set the previous day after Italian Prime Minister Matteo Renzi's loss in a referendum over constitutional reform, an outcome that traders had widely expected.
The dollar was trading against the Indian rupee at Rs 68.09, the greenback was at 4.4420 versus the Malaysian ringgit and the US currency was at available at 6.8654 in terms of the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Tuesday: 78.79-78.80 (previous 78.78-78.80).
In the third Asian trade, the euro and dollar were steady as traders paused for the outcome of Thursday's European Central Bank (ECB) policy meeting, which may set the tone for currency markets after the sharp moves in the wake of last month's US election.
The euro was little changed at $1.0720 after slipping 0.5 percent overnight. The common currency had slumped on Monday to $1.0505, its lowest since March 2015, in a knee-jerk reaction after Italian Prime Minister Matteo Renzi lost a referendum on constitutional reform.
The dollar was trading against the Indian rupee at Rs 67.83, the greenback was at 4.4330 versus the Malaysian ringgit and the US currency was at 6.8881 in terms of the Chinese yuan. Inter bank buy/sell rates for the taka against the dollar on Wednesday: 78.80-78.82 (previous 78.79-78.80).
In the fourth Asian trade, the euro held firm near a three-week high versus the dollar, as investors turned their attention to the European Central Bank's policy meeting later in the day, and as the greenback was dragged down by a drop in US bond yields.
The dollar was trading against the Indian rupee at Rs 67.46, the greenback was at 4.4270 in terms of the Malaysian ringgit and the US currency was at 6.8792 in relation to the Chinese yuan.
Inter bank buy/sell rates for the taka against the dollar on Thursday: 78.82-78.84 (previous 78.80-78.82).
In the final Asian trade, the dollar rose broadly as US bond yields rose, while the euro sank after the European Central Bank's decision to extend its debt-buying programme even as it cut the size of its purchases disappointed currency bulls.
The dollar was trading against the Indian rupee at Rs 67.63, the greenback was at 4.4220 in terms of the Malaysian ringgit and the US currency was at 6.8996 versus the Chinese yuan.
At the week-end, the euro dropped for a second consecutive day in a continued reaction to the European Central Bank's extending its bond-buying program longer than many had anticipated, even as the bank cut the size of the monthly purchases.